Carnegie Foundation studies show that companies where employees are motivated to work perform 202% better than others. They achieve greater productivity and generate higher profits. However, other companies struggle with the fact that their employees are constantly distracted by other activities, like gambling at tonybet, chatting on Facebook, or interacting with their colleagues. Here’s how to avoid such problems and get your staff involved in your company.
Is the Best Motivation Monetary? Or Is Freedom More Important?
Most HR professionals consider regular bonuses to be the primary method of motivation. Skynova conducted a survey and found that only 45% of employees were rewarded for exceeding performance standards, while 38% were congratulated for meeting the standard. A quarter believe employers don’t properly reward them for their achievements.
According to over 60% of those surveyed, performance rewards increase productivity, productivity and motivation.
According to the Polywork survey, for 55% of those surveyed between the ages of 21 and 40, an exciting professional life is more important than money. Only 35% said they intend to stick to one job for life. Nearly 64% said they already combine multiple projects or positions or hope to do so in the future. More than 70% believe the pandemic has accelerated the trend.
In such a situation, companies should think about non-financial incentives to retain the most successful and effective employees.
Looking for a Solution
What kind of motivation employees need depends a lot on their age.
For the older generation, stability is most important. To motivate them, you need to give them guarantees and create an environment where they feel comfortable, for example, where they won’t be expected to move suddenly or go on frequent business trips.
Millennials between the ages of 25 and 40 and members of Generation Z (under 25) are not afraid of change and easily change their place of work. For them the company should be a platform for self-development, otherwise they will leave it quickly.
Employers need to adapt to modern realities:
- Don’t be afraid to engage employees on short-term projects, as it helps them prove themselves in different areas, making the work experience more interesting.
- Allow to work in a convenient format: remotely, in the office or use a hybrid format. The number of employees who prefer to work remotely is growing, and the pandemic has contributed to this.
- Implement a well-being strategy.
Follow the Concept of Well-being
Well-being means “well-being,” “life satisfaction,” “quality of life,” “prosperity.
Well-being is based on the PERMA model developed by Martin Seligman, the founder of positive psychology. It includes five components:
- Positive Emotions – positive emotions, good experiences.
- Engagement – involvement in what you do every day.
- Relationships – relationships with others.
- Meaning – purpose and intensity of existence.
- Accomplishment – achievements.
Bailey and French also added physical and financial well-being.
It’s important for employers to work in different directions without focusing on one thing:
- Take care of employees’ physical health: offer healthy snacks, organize runs, bike rides, invite doctors for consultations.
- Monitor the psychological health of employees and prevent burnout: hire a corporate therapist, create interest groups, etc.
- Ensure a comfortable work environment, for example, by offering employees the choice of their own work schedule.
- Monitor their financial well-being and reward them with cash payments.
- Provide professional development by encouraging employees to get additional education or take advanced training courses.
Companies that do not make concern for the well-being of employees part of their corporate culture are missing out on a tool to work with HR reputation, and will incur losses in the future.
According to the American Psychological Association, from 2011 to 2020, mental health problems among employees worldwide increased by 71.9%. This leads to more sick days, lower performance, and lower profits.
But when a company approaches employee care holistically, it avoids these consequences and gets allies who choose to stay with it. And it’s almost impossible to lure these professionals away with higher salaries.